Sri Lankan businesses raise doubt whether Easter attacks were the beginning

Businesses in Sri Lanka has a million dollar question whether the Easter Sunday’s multiple suicide attacks in churches and hotels was a one-off or else it is just a beginning of a cycle of violence.

sri lanka tourism

The doubt arises as the Sri Lankan economy is already in a shaky condition and more violence and attacks would mean the economy to turn into a downward spiral.

The country has a history of 30-year conflict due to civil war that ended just about a decade ago, but CEO Dilhan Fernando of Sri Lankan tea company Dilmah said that the country experienced violence at a level of ferocity on Eastern Sunday that was never seen earlier.

sri lanka tourism

CEO Lahiru Pathmalal from Sri Lanka’s largest ecommerce website Takas.lk said, “The last 18 months economically have been a big challenge… This will only make it worse.”

In 2019 Sri Lanka was ranked as top destination by Lonely Planet for its surf-worthy beaches, lush hill-country tea plantations and ancient Buddhist temples.

The toursim sector contributes five percent to the country’s economic activity and now, after the attacks, it is in question.

The doubt arises as the Sri Lankan economy is already in a shaky condition and more violence and attacks would mean the economy to turn into a downward spiral.

Lately ratings agency Fitch warned the attacks would undermine tourism receipts and create new downside risks.

Meanwhile, the Sri Lankan government is under pressure from International Monetary Fund and other financial organizations including its own central bank to bring security situation under control and boost confidence among people in the island and also overseas.

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Paul Linus